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Piketty's charge: How a French economist 'rock star' is 'freaking out' the super rich
Wicked Local ^ | 4/24/14 | Michael de Groote

Posted on 04/25/2014 3:52:51 AM PDT by SoFloFreeper

Just looking at the headlines about Thomas Picketty shows that something is up. The Wall Street Journal says he "Revives Marx."

The New York Times calls him a "Rock Star."

...What Piketty has done, according to the official book description on Amazon, is look at the growing economic inequality and concentration of wealth. He examines data from the 1700s and forward and finds social and economic patterns that he says show what is at fault....

(Excerpt) Read more at m.canton.wickedlocal.com ...


TOPICS: Business/Economy; Constitution/Conservatism; News/Current Events
KEYWORDS: capitalism; class; marx; property
Little weasel uses CAPITALISM to bash free markets. What a hypocrite.
1 posted on 04/25/2014 3:52:51 AM PDT by SoFloFreeper
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To: SoFloFreeper
Many of Germany's prewar industrialists were appalled by Hitler's philistinism but they recognized his charisma and calculated they could control him while cashing in.

Many of our contemporary multimillionaires and even billionaires recognized Obama's charisma as potentially the first African-American president and believed they could crony up to him…


2 posted on 04/25/2014 4:00:56 AM PDT by nathanbedford ("Attack, repeat, attack!" Bull Halsey)
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To: SoFloFreeper

Well, if some frog says it, I guess I’m gonna just get out there and equalize what money I have with those that don’t want to do anything for it. Should take about 35 seconds or so.


3 posted on 04/25/2014 4:09:43 AM PDT by rktman (Ethnicity: Redneck. Race: Daytona 500)
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To: rktman

Hogwash.

Free markets lift all. What creates the huge inequities isn’t the wealthy’s investments - it’s socialism and crony capitalism that sends huge portions of capital to the few.

Remove the socialism and crony capitalism of Obama(bail out GM, Solyndra, etc.) and all will benefit.


4 posted on 04/25/2014 4:32:48 AM PDT by Arlis
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To: nathanbedford
Yes, but it looks like Steve Wynn is having second thoughts, LOL.
5 posted on 04/25/2014 4:35:15 AM PDT by 2001convSVT (Going Galt as fast as I can.)
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To: SoFloFreeper

The growing inequality and concentration of wealth is due to differences in individuals with respect to ambition, intelligence, prudence, willingness to take risk, and ability to delay gratification. No other explanation required.


6 posted on 04/25/2014 4:59:04 AM PDT by LambSlave
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To: Arlis

BINGO!!


7 posted on 04/25/2014 5:05:27 AM PDT by C. Edmund Wright (Tokyo Rove is more than a name, it's a GREAT WEBSITE)
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To: LambSlave
...and the reason the wealthiest counties in the country are all clustered around Washington DC is...prudence and delay of gratification? I think you forgot collusion and corruption. Or maybe you think the rash of a couple dozen banksters taking a header off the top of tall buildings is due to "willingness to take risk" and intelligence.

That having been said there is no intrinsic problem with wealth inequality. The leftwingers always ignore that industry creates more wealth, it doesn't just reorganize a static quantity that becomes maldistributed.

The basic fundamental underlying premises of these tiresome statists are false. This latest entry is a mere rehash of the same old same old...

8 posted on 04/25/2014 5:11:21 AM PDT by hinckley buzzard
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To: SoFloFreeper

I knew Milton Friedman. He was an economist, if not The Economist. This Marxist-du-jour is no Milton Friedman.


9 posted on 04/25/2014 5:12:09 AM PDT by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
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To: SoFloFreeper
Frankly, I've come to look at progressive income taxes as a gate keeping device that the super rich sell to the poor, in order to keep the riffraff, upper-middle class from encroaching into their social circles.

Someone who makes $40 million a year can pay a 75% tax and still maintain a mansion, a vacation home, and travel the world. However, the trucking company owner from Lincoln, NE who merely makes $500k a year cannot pay such a high tax rate and still enjoy an effluent lifestyle. The super-rich don't like having the hired help, like their doctors and contractors, showing up at their clubs or vacation spots. God forbid, that neurosurgeon might save some money back for a truly extravagant Vegas vacation and book the penthouse for a couple of nights. Then George Clooney has to live with the uncomfortable reality that some 'nobody' slept on the same bed he's in.

10 posted on 04/25/2014 5:14:06 AM PDT by SampleMan (Feral Humans are the refuse of socialism.)
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To: hinckley buzzard

-— The leftwingers always ignore that industry creates more wealth, it doesn’t just reorganize a static quantity that becomes maldistributed.-—

This is the F=ma of Leftist stupidity.


11 posted on 04/25/2014 5:14:19 AM PDT by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
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To: SoFloFreeper

bttt


12 posted on 04/25/2014 5:32:25 AM PDT by sphinx
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To: Arlis

The poor in the US live better than the poor anywhere else unless they get involved with drugs. The US is one of the few places in the world where people apparently don’t mind going to prison.


13 posted on 04/25/2014 5:43:50 AM PDT by AppyPappy
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To: SoFloFreeper

His book is basically Das Kapital for the 21st century.


14 posted on 04/25/2014 5:44:55 AM PDT by Pecos (The Chicago Way: Kill the Constitution, one step at a time.)
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To: SoFloFreeper

Bump!


15 posted on 04/25/2014 5:50:06 AM PDT by 4Liberty (Optimal institutions - optimal economy.)
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To: SoFloFreeper

“French Economist” is a contradiction in terms.


16 posted on 04/25/2014 6:23:11 AM PDT by Buckeye McFrog
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To: SoFloFreeper

The left uses undefined terms like “super rich” so that everyone has their own interpretation.
In all leftist and LIV minds it means “anyone that has more than me”.

In reality, it becomes “anyone that owns ANYTHING”.


17 posted on 04/25/2014 6:28:23 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: nathanbedford
“Many of Germany's prewar industrialists were appalled by Hitler's philistinism but they recognized his charisma and calculated they could control him while cashing in.
Many of our contemporary multimillionaires and even billionaires recognized Obama’s charisma as potentially the first African-American president and believed they could crony up to him…”

And, in both cases, these “brilliant” industrialists and capitalists were absolutely, positively, unmistakably wrong, wrong, wrong. In the final analysis, these fools all danced to Der Fuhrer’s and Obamination’s will — or else.

18 posted on 04/25/2014 7:28:33 AM PDT by MasterGunner01
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To: Arlis

Liberals love to think that all our money belongs to them. They pretend they care about poverty while they scheme to push us all into a life of poverty. They are also causing the income gap to widen with their corrupt policies that favor anyone who gives them large sums of money. Both political parties are guilty of doing this but it’s the democrats who want to control every aspect of our lives.


19 posted on 04/25/2014 9:16:57 AM PDT by peeps36 (Save The Tortoise And Kill The People)
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To: SoFloFreeper

if the Feds continue QE of course this will translate to a greater separation of wealth, those that have stocks/assets will get richer, those with nothing stay where they are.

Obama (influencing Fed) is creating the exact problem he says he wants to solve.


20 posted on 04/25/2014 9:18:44 AM PDT by fuzzylogic (welfare state = sharing consequences of poor moral choices among everybody)
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To: AppyPappy

We’ve worked with street kids and orphans in Nicaragua. Almost like Haiti (but without a lot of its problems that I believe have spiritual origins), the poverty hits you in the face like a freight train.

All of the poor in the US should be forced to spend a month there seeing what real poverty is, and living like most Nica’s do.

Our poor have no idea what poverty is, and live like the rich in 90% of the world.

The liberals survive only on a foundation of total lies about reality....and their solutions of which none work.......


21 posted on 04/25/2014 2:24:10 PM PDT by Arlis
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